Contents
Depending on the LimeFX account type selected, on average an individual and joint account takes 1-2 business days and a corporate account takes 3-5 business days. When opening an account, you will need a government-issued proof of ID and proof of residence for all parties to be named on the account. Acceptable forms of proof of residence include utility bills and bank or credit card statements. It rejected my withdrawal for many reasons and told me to pay yuan for additional fee. LimeFX offers various popular financial products, mainly including Forex, Precious Metals (gold & silver), and a series of Commodity CFDs. Constant vigilance should be applied at all times when sending money online.
However, be advised that LimeFX requires quite a high minimum deposit, so it is perhaps not the best platform for those who don’t already understand forex. Once you are up and running with a broker, you’ll see that currencies are always listed in pairs, as you are trading one for another in a similar way to how you would change currencies at the airport. You can then trade these as options via the LimeFX trading platform.
NFA is a self-regulatory organization set up by the CFTC specifically for the US derivatives industry, providing innovative and effective regulatory programs. We found that reviews of LimeFX were mostly positive – with the firm particularly well-regarded for the attitude and manner of customer service representatives. The legitimacy and reputation of a broker is always a major concern for traders. Even if a firm has been on the scene for several years, reputations aren’t always enough to go by when investing funds. With this in mind, our LimeFX review took a closer look at the broker to ascertain just how legit it is. I have a few other brokerages I use but my main account is with ATC.
This broker has no supervision or offshore license, I realized it when I tried to investigate why my funds were not accessible for withdrawal. They ask for a WITHDRAWAL fee or TAX fee just to manipulate us and deposit more. However, there is a need to make a few improvements, like the launch of more trading instruments and the removal of geo-blocking restrictions.
LimeFX review: Regulations, Platforms, Trading Instruments and Broker Ratings.
CFDs and trading in forex on margin, carries with it significantly high levels of risk and might not be compatible for all the investors. Practice caution and see financial advice when unsure because what we offer here is NOT financial advice. We provide objective and unbiased reviews, analysis and commentary. We verify some of our data for quality control but there are slight variations occasionally.
Cryptocurrency trading takes place by the exchange of crypto coins, crypto coins against fiat money, crypto coins against precious metals, and crypto coins against crypto coins. For a standard lot size of 1, the minimal spread varies between 275 and 25010. The feature-rich platform of FBS is accessible in mobile devices, like smartphones, tablets, and laptops, through the mobile app of FBS.
In conclusion, LimeFX is a great choice for experienced traders who are looking for a reliable and user-friendly platform. The company offers a wide range of features and tools, as well as competitive spreads and excellent customer support. Overall, LimeFX is a great choice for those who want to trade with a trusted and well-established broker.
- The economic calendar of FBS broker cuts down on the overwhelming content with the help of relevant filters that helps in displaying the updates related to the most recent and specific events.
- Also referred to as the forex calendar, the calendar is for conducting the fundamental analysis and technical analysis of the forex markets and the currency pairs on the basis of market events.
- With LimeFX, you can rest assured knowing that your withdrawal request will be honored and they are highly unlikely to manipulate market prices due to the regulations imposed on them.
- The initial deposit varies for the users based on the trading region and account type payment provider of every user.
This begins in the fundamentals with their core focus on social trading. This is evidenced in the development of their platforms, which function as much like a fast-flowing social network as a trading platform. The demo account provides a virtual $100,000 for you to hone your trading skills if desired.
Getting my money back seems impossible
For beginners, they have an extensive education center that covers a wide range of topics, from the basics of forex trading to more advanced concepts. As previously noted, the minimum deposit required to open an account is $2,000, which our LimeFX review found to be quite high. The platform is also somewhat restrictive with its payments and withdrawals. The options to fund your account are via bank transfer, Visa, UnionPay, Skrill, and Mastercard, with USD and EUR being the only currencies supported.
And what is ATC Broker’s response when confronted with this issue? ASIC. These bodies act as industry regulators in the EU, UK, and Australia, respectively, and provide some of the most stringent oversight in the financial world. This totally numbers around 140 nations, though there are a number of exclusions. Among these, the countries which stand out as being unable to open an LimeFX account include Canada, Japan, and Brazil.
With ATC, you get access, not just FX and Metals but also CFDs-which means there’s no need for multiple accounts anymore. You can start off on your adventure with our demo version before deciding if this will work well for you or not. limefx cheating The LimeFX company offers traders the opportunity to open forex accounts, which are primarily used for currency trading. In this review, we will deep dive into brokers’ fees, regulations, trust, trading platform, and support.
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction. People who write reviews have ownership to edit or delete https://limefx.name/ them at any time, and they’ll be displayed as long as an account is active. They cost me -£1,000 by telling me incorrect information, after I withdraw my funds they closed my account down. I emailed them after saying I didn’t want my account closed and what the minimum amount I needed to keep it active, no reply.
In other words, the regulatory information presented on the broker’s website can not prove that the broker is regulated.In addition, the company claims to be located in Netherlands. So we searched he Dutch Authority for the Financial Markets but found no matching results. Moreover, the Spain Comisión Nacional del Mercado de Valores issued a warning that AEX Trade was not authorised to provide the LimeFX services in Spain. You can check the full warning from here.The truth is, AEX Trade is no longer under valid regulation by any regulators. We would recommend traders stay away from unregulated brokers like AEX Trade and trade with licensed brokers. FBS allows the traders of the Standard and Cent Accounts to conduct demo trading in a wide variety of assets.
Trading Bonuses
Following on from this is the ease of use, which the platform tries to embody. This makes it extremely appealing to new or time-sensitive traders who can benefit from a completely packed and professional service with minimal need for technical input. CopyPortfolios allows you to follow the trades of other LimeFX users in a social media style setting. Through this, you can also view all of their relevant statistics in regard to profits and trading success. If you like what you see, you can select to automatically copy the trades of that person.
I find it ironic that LimeFX will ignore a UK-based professional trader on this matter (and others!). All the while, coupling themselves as an Introducing Broker with a parent company that uses the wrong Market Watch time. Pick up any in-depth book by professional forex traders worldwide and they will most likely cover this aspect of selecting a broker. It has been covered in ALL forex books I’ve read over the last 12 years. I am happy to say that, as I tried to find my trading niche, I have done all types of trading with ATC.
This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. All information on 55brokers.com is only published for general information purposes. We do not present any LimeFX advice or guarantees for the accuracy and reliability of the information. Leverage is a quite known instrument, which obviously increases the initial capital you trading with and can be a very useful tool to magnify your potential gains, but in case you use it smartly. Comparebrokers.co needs to review the security of your connection before proceeding.
With the Pro version, this is done by providing useful reports that let people know what they should do with their LimeFXs. Segregating client funds prevent the use of client funds by LimeFX for its own account. LimeFX USA continues its streamlined theme with its singular platform offering. Experienced traders will probably already be familiar with MetaTrader 4, as it is one of the most popular platforms available on the market.
Also referred to as the Trader’s Calculator, the Forex Calculator helps with the comparison of trading parameters to enable the traders to select the right account type at FBS broker on the basis of his trading needs. The trader has to set the account type, trading instrument, lot size, major currency pairs to be traded, leverage rate, ask price, and bid price in order to use the calculator for forex trading. The transactions take place almost in an instant by the payment processor for every mode of payment. However, for transactions through bank transfer, the deposit and withdrawal methods take at least 48 hours for confirmation. The platform charges a transaction fee for withdrawals at the international offices. The users may be requested to submit government-issued ID proof documents for withdrawing traders funds of substantial amounts.
LimeFX Review
LimeFX is a foreign exchange trading brokerage company that provides online trading solutions for retail and institutional clients in the forex trading industry. LimeFX was launched in 2005, headquartered in London, UK, authorized and regulated scammed by limefx by the Financial Conduct Authority . This broker also has an additional entity based in the Cayman Islands which is regulated by the Cayman Islands Monetary Authority . LimeFX follows an STP model, offering forex and CFDs instruments.
- Interactive Brokers’ clients sue the broker over harm caused by its alleged aiding and abetting the Haena Park Ponzi scheme.
- Scam prevention begins with checking all email addresses through an automatic verification process.
- WikiFX Internet and its mobile products are an enterprise information searching tool for global users.
- Experienced traders will probably already be familiar with MetaTrader 4, as it is one of the most popular platforms available on the market.
- The bank transfer payment system is only available for users within the EU region.
HandSwift Trading is not a licensed or regulated broker even though it states offers that look good to be true. HandSwift Trading claims to be a reliable broker carrying a business license in the United States. But please be informed that a business license does not have any regulatory effect.
In the case of a non-depositing account, this period reduces to 4 months. Customer service only offers an electronic contact system, which can be slow. In addition brokers on this scam brokers list are in breach of European laws by accepting you as a client. Some negative reviews might be submitted by the company’s competitors. Even though we have learned to filter those quite well, some are still getting through. I don’t think you understand DRAWDOWN- let me get the definition for you-“”What Does Drawdown Mean?